No Bonuses for Utility Executives Act

Key Points

• This bill stops top bosses at certain power companies from getting bonuses if they raise your electricity or gas bills too much. If a company raises rates faster than the general cost of living, the executives cannot get any extra bonus pay for that year.
• Even if they do qualify for a bonus, the amount is limited. A boss cannot receive a bonus that is more than 25 percent of what a typical worker at the company earns. This is meant to keep pay fair between the leaders and the staff.
• These rules specifically target electric companies that are not fully owned by people or businesses in the United States. The government will look at company records every year to make sure they are following the law.
• If an executive takes a bonus that breaks these rules, they must give the money back. The government will then take that money and divide it up among the utility's customers, sending it out as a refund check to help with their bills.

Impact Analysis

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